tv Bulls Bears FOX News January 6, 2018 7:00am-7:30am PST
pete: >> griff: jenkins will be here tomorrow right too? >> griff: yes. lisa: maybe adam will work out more for us. pete: we love you guys we'll see you tomorrow. fox & friends out of here. dagen: stocks setting new milestones and now republicans are setting their agenda. hi everybody i'm dagen mcdowell, this is bulls & bears. president trump and gop leaders huddling at camp david with an eye on keeping their majority in november but gary b. says they have nothing to worry about because those tax cuts are already making americans richer right now, as stocks rush higher & companies share that extra cash with their workers. is he right? the bulls & bears this week including gary b. smith, joan as max ferris and john layfield along with hadley heath manning. welcome to everybody. gary b., you say the tax cuts will help the gop in those midterms.
>> absolutely, and any time people feel richer out there, they have more money in their pocket, their job prospects are more. it helps the party that currently holds congress and it helps the presidency. look i'm firmly convinced that most people out there have been brainwashed by the mainstream media that this is a corporate- only tax cut. they won't see a dime. that's untrue the tax foundation has run scenario after scenario where the average person is going to get back two or $3000 and that's going help a great deal not to mention out there once the money is in the people 's pockets versus the government in the history of man kind, no one can say i wish the government had the money they spent it a lot better than i did. every tax cut we've seen all the way back to calvin coolidge has been beneficial for this country this one will do the thing. dagen: john, stocks on a record
breaking run the s & p 500 has had its best post-war bull market ever. it's more than quadrupled and of course much of that was under president obama but it's still going strong we created more than 2 million jobs in this country last year. does that help the gop? >> absolutely like seven straight years, six were under president obama 2 million jobs plus this economy continues and gary b. is right about two things. the left right now is talking from emotion they're not talking from facts when you don't have facts you argue with emotion. the rich are getting richer and the guy on the corner office is getting the tax breaks. truth is small business they will spend that money on jobs and other thing gary b. was right about is this benefits the gop. i'm not a fan of the gop. i don't think they have to be great, they just have to be better than the other side and i think they are better than the other side. they got the tax cut passed looks like they get infrastructure passed you have a lot of people in blue states a lot of democrats on the council for the infrastructure bill.
looks like they will get that passed while people vote with their pocket book and that favor s the gop. dagen: hadley, you already have more than a hundred companies stepping up to give this money from this tax cut to the workers whether it's at&t, verizon, you name it we're talking about hundreds of thousands of people who will get bonuses or feel this in some other way. >> that's right. they're sharing the success and anybody who said during the month-long debate over tax reform that this bill was only going to help the 1% it was only going to help corporations they've been proven wrong and should lose a lot of credibility for that. i don't think that will happen because in politics people believe what they want to believe but ultimately a strong economy never hurts for the incumbent party and republicans are in a much better position now having passed that package. dagen: chuck this is what you do for a living but the democrats have really worked themselves into a corner where nancy pelosi is calling this tax reform armageddon and the end of the world, and basically, anything that helps a business that employs your momma or your daddy
or your cousin or your brother or sister is bad and i do not think that that resonates with voters. >> well let me tell you what resonates and get you all set back and try to talk as slow as i can, a big stock market don't mean you're going to win elections. for all you folks back in east texas i'll say this even slower where i'm from is that under barack obama, the stock market literally doubled. it doubled, and we created 11 million new jobs under barack obama and as a democrat i will admit we lost 61 seats in the congress, so an inflated stock market and even the economy doing relatively good don't always ensure you'll have victories. the smartest thing they could do at this retreat if they want to win midterm elections is take his phone away from donald trump and somebody step on it. dagen: [laughter] but jonas, i will argue that was part of the problem during the obama administration is that they talked down the economy. there wasn't enough talk and it's not just the stock market,
chuck. it's also an economy that is growing at a 3% rate likely for the third quarter in a row. jonas? >> well, recall a lot of talking down to the economy under obama as well. i will say i don't think it's a slam dunk for the midterms. it's going to be tight. it's already tight. it would be nice if these companies paid out these thousand dollar bonuses right before the elections, that would be timed better because i think it would remind people that trickled down actually exists and it does trickle up and i think ultimately whose going to win whose the better messenger of selling trickle down versus trickle up economics. i think pelosi is not a very good salesperson and you would get a tax cut and spend money and the companies make money too you don't have to give them a tax cut and they give you trinkets while they earn years and years of corporate tax cuts. that's the pitch that probably maybe a bernie sanders when he was younger could sell. i think it does show people that oh, yeah i've got something it wasn't what i was told it wasn't all for corporate america.
personally i think we needed a corporate tax cut to resemble the rest of the world so it doesn't matter where the money is flowing it was a requirement but that said it could go either way in an election definitely. dagen: but gary b., so 80% you were talking about this 80% of americans are going at least are going to get a tax cut with this ; however why do democrats think that cutting taxes for corporations that keep jobs here , that bring more jobs to the country. people in this country are smart enough to know that if my employer is healthy and financially sound, that's good for me and my family. >> exactly. well, dagen as we well know the left is reflectively against the business because what they do is they equate big business, they think it's that guy on the monopoly boardwalking around with a top hat and the cane and they're all billionaires and so they would like to always pit us against them. in fact, it's not.
it's people like chuck out there who are probably going to get money back and i would ask chuck directly. wouldn't you, would you rather, chuck, have a thousand dollars in your pocket or would you rather that thousand dollars be put in the government's pocket? i think i know the answer to that and then i think i know who chuck would support for putting that thousand dollars back in his pocket. >> chuck is always for putting money in chuck's pocket because chuck likes to go fishing let me be clear. >> [laughter] there you go. dagen: [laughter] one thing i want to add though, hadley, which could be a head wind for the republicans come november is not dealing with obamacare, because you've got rid of the individual mandate and the tax reform bill. that's going to be a looming problem whether they can get their arms around remains to be seen. >> exactly, and you know to jona s's point what happens right before midterm elections open enrollment for the affordable care act exchanges happens every fall and every falcon schumers are reminded what their health
insurance premiums are going to be and for the past several years we've seen premium increases year-over-year in the double-digits so now that republicans have the reigns of control in congress and the white house if they fail to address this issue in a meaningful way and i do believe that repealing the individual mandate or eliminating that penalty associated with it is a big step in the right direction but that should be the starting point for reform it is certainly not the finish line. dagen: john final word to you. >> look the republicans got one thing done and the right thing they got done but they had both sides of congress and the white house. we're electing the least worse right now coming up in the midterms and to chuck's point i think people were upset about the fact they had clinton under bush in the white house since 1980 and they wanted a change and continue a change against incumbents but you got to wick one of the two and now with the tax cut going forward with an infrastructure bill looks like the gop will be the one that benefits from that. dagen: you've got nancy pelosi walking around with her tax cuts so maybe that works for the democrats. thanks, guys and gals. cashing in just over an hour
from now, liz claman, what do you guys have coming up? liz: hi, dagen. the media all over that fire & fury book that sparked the war of words between president trump and steve bannon, but why aren't they all over the fire & fury taking place in our booming markets and economy? plus, north korea plans to talk with south korea ahead of next month's olympics making nice or a masterplan to blackmail the free world before the games begin. come hang out with us on cashing in we'll see you at 11:30. dagen: thanks liz we'll be watching but up here first temperatures plunging sending your bills soaring how this freeze could put a squeeze on your wallet. only tena intimates has pro-skin technology designed to quickly wick away moisture to help maintain your skin's natural balance. for a free sample call 1-877-get-tena.
agenda, special focus on infrastructure they're going to also map out their strategy to defend congressional majorities in the upcoming midterm elections. first came the snow and now the deep freeze. you can see cars stuck and going nowhere, frozen floodwaters here in massachusetts. arctic air is making its way across the east coast. wind chill warnings now up from vermont to virginia, with actual temperatures plunging to near zero in some places. forecasters say you'll have to wait until next week to warmup. hope you're having a wonderful morning, warm and at home. i'm leland vittert now back to bulls & bears. dagen: a deep freeze gripping the nation. roads icing over, lakes and rivers freezing over. niagara falls surrounded by ice all over and gary b. says the big freeze could end up costing you big bucks, no matter where you are.
how's that gary b.? >> well, you know, it's all based on supply and demand dagen and right now, the demand for everything from heating oil to natural gas to even gasoline is going up, so those prices for the short-term should go up a little but what happens is everything reverts to the mean. i was just looking to new york thank god i'm not there because it's cold. it's even cold here in florida but right now what is the feels like temperature is six degrees, by next friday, it's going to be 40 degrees, so this temporary spike although it's frigid out there everyone has the heat on high is going to fade, so maybe a week or so of high prices. dagen: hadley? >> weather can affect the economy in a myriad of ways. we haven't gotten enough snowfall for our ski mountains so we hope for more snow in the spring but bottom line snowstorm s of any kind are destructive that's bad, that means people lose their lives in some cases but economically speaking they have to spend more
on the necessities rather than spending their money how they choose. dagen: john you'll see wild price spikes in natural gas consumption hit record levels at though production at a record as well but it's also like the fruit crop down in florida prices on citrus fruit are going to go up. we'll see spikes as gary b. said , but gary b., i'm in new york right now and i saw walkers on the way to work today winter has come. i'm freezing. i'm from bermuda you guys and those warm southern states but fortunately we have a very low inflation we have low inflation because of many things because the amazon effect because of the natural resources from natural gas to show oil so we're starting from a very low base of $2.49 right now is the average gallon of gas so you're going to see price spikes and because of the low inflation environment it's not going to be that bad and fortunately unless the snow lasts forever which i don't think it will hopefully, feels like it has already you aren't going to see it for that long. dagen: jonas, this was an energy market not prepared for this kind of weather, they have gone numb, no pun intended because
the weather was so seasonably warm earlier this season. >> yes, we were gearing up for global warming a little cold in florida gary it's frozen trees down here it's really cold. >> [laughter] >> i will say look yes there's going to be serious short-term implications in the market not enough supply in the areas for the increased demand. that said there's not a move like 05 back to $150 oil. there is a ton of oil that was taken off the market because of low prices biopeck and also our own shale production is lower than it was that is there for any long term. we aren't going to get $90- barrel or $4 gas prices because that will take a little while but the reserves don't worry about it like last time. dagen: chuck final word to you. >> to jonas, as the wildlife expert here that lizard is not dead. you just got to warm him up and he will walk away. to gary b.'s point about supply and demand we're talking about the negativity but you should think about the positive as well think about the long john sales going up and the snow tire sales that are going up and the
whiskey sales going up from folks who ain't going nowhere just sitting around being cold. >> how do you warmup a lizard? dagen: do you know what? what you just missed, the fact that that was a very wise economic analysis that chuck just did. >> exactly. >> you all should be listening to me. i know mayan it malls. dagen: sounded like a broken window a little bit. >> [laughter] dagen: thank you. cavuto on business coming up at the bottom of the hour, neil what have you got? neil: hi dagen time to stop burning our cash on countries burning our plant. rand paul telling me we should spend it on our roads and bridges instead we'll debate it, and after california becomes the first sanctuary state someone here says the federal government should sue the golden state. we'll see you soon. dagen: thank you neil. we can't wait, but coming up here, earlier we told you about the storm outside. now to the storm in washington, some saying this feud could leave the gop base divided. but one of our guys says the
sword another class i'm glad i skipped in college because that's wrong especially when the sword is carried by the president of the united states against a person who is a very successful business person but who runs a website and you compare the leader of the free world against steve bannon, and when they give money they want access, you get that access when you give the president of the united states i think he wins this one. dagen: chuck it is follow the money this is what you do for a living the mercer family billionaires were already distancing themselves from steve bannon before this book came to light. people talk about politics they talk about money and politics, you never want to take on the guy that's got the biggest checkbook. people talked about how donald trump won this because he did a lot of facebook adam:s and was out there on social media but there was a lot of money behind him driving that. you don't want to pick a fight with somebody writing checks and to john's point bannon may be a great strategist but if i'm paying for things with penny rolls you won't never hear my message. dagen: [laughter]
hadley, how does this help gop potentially? >> right, i don't think this feud between bannon and trump is really as much of a dividing force within the gop as it could be a uniting force. there's a lot of people within the republican base who may not care for steve bannon so much so leaving him behind could really allow president trump start or rise even further and it could am was up relationships with congressional republicans and people like leader mcconnell, speaker ryan and allow that legislative agenda to move forward get things passed and done and i don't think it will damage the party in a big way. dagen: gary b., the reason steve bannon was crashing before he took pot shots at the president 's children is because he got behind one of the worst candidates, roy moore was in alabama and he lost in a red state which is impossible to do. >> i'd poke fun, dagen at your southern accent but i think that's going to get me in trouble so i'll move on. i think it's charming. dagen: [laughter]
>> [laughter] in any event look, i think it's simple. i think john started out with the exact right point. you know what the rich care about. they care about who has the juice. i remember back then, the rich were all enamered with mitt romney until it looked like mitt romney was going to lose and then this past election was jeb bush and i guarantee right now, they're behind donald trump because he is the juice. if things start to go south for donald trump, watch the big money shift to the next person who might be in office. right now donald trump looks good. probably for eight years, that's where the money is. dagen: well and jonas, many in the gop the establishment starting with mitch mcconnell are happy that steve bannon is going out because he was going to run primary contenders against all of the gop incumbent s pick people who really in a general election were not very electable so this looks good for any establishment republican. >> i think everybody here is underestimating the trump magic.
yes billionaires and money seekers are going to head towards gary b.'s juice there's no question about that but that's not the trump magic he didn't win because he gets billionaires to vote for him. the average person following the story doesn't have a lot of money hears trump say bannon went crazy. you look at the two of them and it's like trump looks like he belongs in trump tower and steve bannon looks like a guy you don't want to sit next to on public transportation and that's what ices this for trump. >> [laughter] dagen: [laughter] john you get the final word. >> being from the south i think gary b. has the accent. dagen: [laughter] >> [laughter] >> i would agree. i totally agree. dagen: i love you all. big group hug. [laughter] thanks you all. special thanks to hadley and chuck for joining us everybody. did you make a new years resolution to lose weight? what about for your pet? turns out that's a pretty huge problem. fear not one of our guys has a pick to help your pet get skinnier as your wallet gets fat
tag predictions, gary b., go. dagen pet obesity is on the rise although not with my three dogs and cats but i still give them prescriptions and i use pet meds which is pets up 20% in a year. dagen: jonas, you're adage whisperer. yeah, a thin dog whisperer and until amazon launches their pets products this company should do fine. that could be a few months away. dagen: john your predictions? roll tide. i think alabama wins a classic on monday and i can't wait to watch it a classic stock that hasn't been winning, as ge. dagen: gary b., hold your nose? >> well, i think its gone the way that georgia will in the playoffs. dagen: jonas, prediction? >> joe we can find out basically every computer chip has massive flaw that leads to crazy hacking including apple so i will say that cyber paranoid is good for hacked etf on cybersecurity
stocks up 20% in a year. dagen: john help me? >> you can figure out what the heck he says every week. dagen: and feed him. >> cheeseburger. dagen: neil now. >> we don't like to see our money going to countries that burn our flag. we ought to quit sending good money after bad and what i discussed with the president is i have an idea for using some of that money here at home. we've got bridges and roads that need repair. we don't we keep that money at home and let's put it into rebuilding our infrastructure here at home. neil: you want to keep burning our flag republican senator rand paul says go ahead we'll take your aid and spend it here. is that right or wrong welcome everybody. glad to have you i'm neil cavuto to charles payne and charlie gasparino, kennedy along with ben stein and adam lashinsky. charles, to you first. thanks for sitting in for me, whatever. >> [laughter] neil: now this whole thing, it's closing it up